Great West Life Assurance Co. Can Has $49.11 Million Stock Holdings in HP Inc. (NYSE:HPQ)

Great West Life Assurance Co. Can reduced its stake in HP Inc. (NYSE:HPQ) by 16.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,590,715 shares of the computer maker’s stock after selling 313,440 shares during the quarter. Great West Life Assurance Co. Can owned about 0.16% of HP worth $49,114,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. KCS Wealth Advisory grew its position in shares of HP by 1.0% in the 2nd quarter. KCS Wealth Advisory now owns 36,325 shares of the computer maker’s stock worth $1,116,000 after buying an additional 362 shares during the last quarter. First Command Bank boosted its holdings in HP by 25.4% in the second quarter. First Command Bank now owns 1,870 shares of the computer maker’s stock valued at $57,000 after acquiring an additional 379 shares in the last quarter. Vantage Consulting Group Inc increased its position in HP by 2.1% during the 1st quarter. Vantage Consulting Group Inc now owns 18,550 shares of the computer maker’s stock valued at $544,000 after purchasing an additional 386 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in HP by 0.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 80,573 shares of the computer maker’s stock worth $2,474,000 after purchasing an additional 398 shares in the last quarter. Finally, Lindbrook Capital LLC lifted its position in shares of HP by 5.9% in the 2nd quarter. Lindbrook Capital LLC now owns 7,194 shares of the computer maker’s stock worth $221,000 after purchasing an additional 399 shares during the period. 76.04% of the stock is currently owned by institutional investors.

HP Stock Performance

Shares of HP stock opened at $27.99 on Tuesday. The company has a 50-day simple moving average of $26.84 and a two-hundred day simple moving average of $29.56. HP Inc. has a 52-week low of $25.22 and a 52-week high of $33.90. The stock has a market capitalization of $27.66 billion, a PE ratio of 12.06, a price-to-earnings-growth ratio of 2.35 and a beta of 1.04.

HP (NYSE:HPQ) last announced its quarterly earnings data on Tuesday, August 29th. The computer maker reported $0.86 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.86. The company had revenue of $13.20 billion during the quarter, compared to analyst estimates of $13.38 billion. HP had a net margin of 4.23% and a negative return on equity of 113.55%. The firm’s revenue for the quarter was down 9.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.04 EPS. As a group, equities research analysts forecast that HP Inc. will post 3.3 EPS for the current fiscal year.

HP Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 3rd. Shareholders of record on Wednesday, December 13th will be paid a dividend of $0.2756 per share. The ex-dividend date of this dividend is Tuesday, December 12th. This represents a $1.10 annualized dividend and a yield of 3.94%. This is a boost from HP’s previous quarterly dividend of $0.26. HP’s dividend payout ratio is currently 45.26%.

Insider Transactions at HP

In other HP news, major shareholder Berkshire Hathaway Inc sold 938,968 shares of the stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $29.59, for a total value of $27,784,063.12. Following the transaction, the insider now owns 120,013,850 shares of the company’s stock, valued at $3,551,209,821.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Enrique Lores sold 38,000 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $25.75, for a total transaction of $978,500.00. Following the sale, the chief executive officer now directly owns 728,268 shares in the company, valued at approximately $18,752,901. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Berkshire Hathaway Inc sold 938,968 shares of the company’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $29.59, for a total transaction of $27,784,063.12. Following the completion of the transaction, the insider now directly owns 120,013,850 shares of the company’s stock, valued at approximately $3,551,209,821.50. The disclosure for this sale can be found here. Insiders sold 14,457,179 shares of company stock worth $388,231,371 over the last three months. 0.32% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on HPQ shares. Deutsche Bank Aktiengesellschaft reduced their price target on shares of HP from $32.00 to $30.00 and set a “hold” rating on the stock in a research report on Wednesday, August 30th. Evercore ISI reissued an “in-line” rating and issued a $33.00 target price on shares of HP in a research report on Monday. Barclays dropped their price target on HP from $24.00 to $23.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 30th. Morgan Stanley increased their price objective on HP from $30.00 to $31.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 11th. Finally, Citigroup raised HP from a “neutral” rating to a “buy” rating and raised their price objective for the company from $31.00 to $33.00 in a research report on Monday, November 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.82.

HP Company Profile

HP Inc provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.